Six charts show how subscription spending affects you – and why you need to track it

More online businesses are hoping you’ll sign up for their subscription service plans, with automatic monthly billings, until you decide to stop – or realize you’ve forgotten to cancel.

It's not just digital services like Netflix, Spotify, or Amazon Prime. Other businesses offer subscriptions for physical products, everything from shaving kits to cars, wealth management company UBS, reported in 2021.

The number of retail subscribers increased by 90% in 2020 from 2019, and rose another 7% in 2022, according to ReCharge, a subscription payment platform.

However, consumers are growing tired of more companies charging monthly fees, as USA TODAY reported. Other studies show some subscribers can lose track and continue paying for services they've forgotten.

A look at how you can use subscription services more than you might think and why it's essential to keep tabs on what you're paying:

How subscription economy affects your life

Digital subscription spending is expected to increase

Which services lead subscription spending?

How much do consumers underestimate paying?

In a survey, subscription users generally thought they were paying less for their services per month than they actually were.

Consumers were first asked for a quick estimate of monthly subscription spending. Then they were asked to break down what they spent on various categories of services.

On average, consumers underestimated the monthly amount by 2 ½ times the original estimate.

Subscribers can forget they're subscribing

How much are consumers willing to spend on subscriptions per month?

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CONTRIBUTING Bailey Schulz, USA TODAY

SOURCE USA TODAY Network reporting and research; UBS; C+R Research; Associated Press